Residence in Campione
	Real Estate
	More about Campione

Campione d'Italia is a small Italian enclave of 1.7 square kilometres located entirely within Switzerland, on the eastern shore of lake Lugano at the foot of a beautiful mountain. There are approximately 3,000 inhabitants, including about 1,000 foreigners. The Comune di Campione is part of Italy (province of Como) and Italian law applies. Official currency is the Swiss Franc, but the Euro is accepted as well. All banking is done through Swiss banks, which gives its residents additional financial privacy. A famous Casino generates substantial revenue, which is one of the reasons why the residents of Campione enjoy some special tax concessions. Furthermore, Campione is exempt from the Italian value added tax (VAT). However, the tax advantages only apply to private persons resident in Campione, and not to companies domiciled or managed from there. Campione real estate prices are extremely high, and since Campione does not offer tax-free residence like for example Monaco, the tax advantages offered by Campione to its residents rarely outweigh the overall cost of living there. Still, in certain cases Campione d’Italia can be an interesting option for residence.

View of Campione d'Italia

Some Income Tax Breaks - but not Tax-Free Residents of Campione do not pay the full Italian income tax. Based on a special provision in the Italian law, the first CHF 200,000 income are exchanged into Euro, the official currency in Italy, at a special exchange rate. This results in a lower effective income and consequently a lower tax rate is applied. However, as mentioned, this only applies on the first CHF 200,000 of income. Besides this special concession for Campione residents, the normal Italian tax laws – and tax rates - apply. As in Italy proper, there are no inheritance and gift taxes, and income from interest of foreign bonds paid through an Italian bank is taxed at a special, reduced rate of 12.5% only. Note that for companies established in Campione, normal Italian taxes apply which are very high.

To obtain a residence permit, you must practically buy an apartment or a house – simply because there is very rarely the opportunity to rent. The real estate market is very small and prices are extremely high – the same apartment across the lake can easily cost half of what it costs in Campione. Usual police clearance from the Italian authorities as well as approval of your application by the local authorities is also required. While residence permits are issued by Italian authorities, access to the territory of Campione is governed by Swiss visa regulations. This means that the passport you hold should allow you to enter Switzerland without a visa, or you will have to apply for a Swiss visa beforehand. The small real estate market is served by a few local real estate agents, some of which are operating rather unprofessionally and some even without a license, so the foreign buyer has to be very careful. If you are interested in establishing your residence in Campione and purchasing real estate there, you should be represented by a competent lawyer right from the beginning.

Henley & Partners is the only international firm with profound knowledge and experience with regard to Campione and offering unbiased advice and assistance. Our Zurich/Switzerland office and our representatives in Lugano and Campione constantly monitor the market and know who is who – and with whom better not to deal with. As professional consultants independent of any local real estate agent we are best positioned to help and assist you to acquire property and to establish yourself in Campione d'Italia, including dealing with Italian immigration procedures, real estate purchase agreements, tax issues, etc.

Some of the many advantages of being resident in Campione d'Italia:

	Political, social and economic stability
	First-class Swiss infrastructure
	Swiss Franc is the official currency
	Banking through Swiss banks with Swiss banking secrecy
	Attractive lifestyle in a quiet, clean environment
	Efficient and reliable public services
	Swiss postal services, telephone numbers and car registration plates
	Effectively resident in Switzerland - with E.U. residence permit
	No value added tax (VAT)
	Moderate income tax, no inheritance or gift tax

Further Information

For more information about residence and real estate purchase in Campione, contact Henley & Partners. Through our offices in Zurich and representative offices in Lugano and Campione itself, we are in the best position to advise and assist you with all matters regarding residence in Campione as well as in Italy and Switzerland.